Share of spending on food items rises in 2023-24, shows NSO survey

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Share of spending on food items rises in 2023-24, shows NSO survey - Business Standard

Quick Summary:

Of the total MPCE, the share of food items increased to 47.04 per cent in rural areas and 39.7 per cent in urban areas in 2023-24 from 46.4 per cent and 39.

PC Mohanan, former acting chairman of the National Statistical Commission (NSC), said that the increase in the share of expenditure on food items could also be due to the high food inflation that prevailed in the past year.“One is that a variation of this magnitude is within the margin of error.

Among non-food items, the share of expenditure on medical, education, rent, fuel, and durable goods declined in rural areas.